K Line Offshore to be disbanded

Kawasaki Kisen Kaisha’s (K Line) Norwegian offshore venture has come to an ignominious end. 

After years of losses, management in Tokyo has decided to disband K Line Offshore, a company it established in in Arendal, a city in southern Norway in 2007 at the height of a previous shipping and offshore boom. 

K Line will sell the Norwegian subsidiary’s fleet comprised of four platform supply vessels and two anchor handlers and shut the company, revealing today it will likely register an extraordinary loss of approximately Y17bn ($149.7m) from the move.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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